These Analysts Revise Their Forecasts On Arvinas After Q4 Results

Core Insights - Arvinas, Inc. reported fourth-quarter sales results that were worse than expected, with quarterly losses of $0.63 per share, which was better than the analyst consensus estimate of a loss of$0.87 per share. However, quarterly sales of $59.20 million missed the analyst consensus estimate of$65.28 million [1][2] Group 1: Financial Performance - The company reported a quarterly loss of $0.63 per share, beating the analyst consensus estimate of a loss of$0.87 per share [1] - Quarterly sales were $59.20 million, missing the analyst consensus estimate of$65.28 million [1] Group 2: Future Outlook - The CEO of Arvinas highlighted significant progress in their pipeline for 2024, emphasizing the upcoming results from the VERITAC-2 Phase 3 clinical trial and the first-in-human data for the ARV-102 neuroscience program [2] - The company anticipates sharing additional updates from its pipeline and PROTAC platform in the coming months [2] Group 3: Analyst Ratings and Price Targets - Following the earnings announcement, analysts adjusted their price targets for Arvinas: - Stifel analyst lowered the price target from $63 to$51 while maintaining a Buy rating [4] - BMO Capital reiterated an Outperform rating and cut the price target from $88 to$82 [4] - Oppenheimer maintained an Outperform rating and raised the price target from $40 to$45 [4]